Saudi Arabia hit a new milestone in 2024 with a record 178 venture capital (VC) deals, making up 31 percent of all VC transactions in the MENA region, according to a report by MAGNiTT, sponsored by Saudi Venture Capital Company (SVC). According to Economy Middle East, the Kingdom also retained its top position in MENA...
Saudi Crown Prince Mohammed bin Salman has revealed Saudi Arabia’s ambitious plan to invest $600 billion in the United States over the next four years. This announcement came during a phone call on Wednesday evening with former US President Donald Trump, as reported by the Al Khaleej. The Crown Prince emphasized the Kingdom’s commitment to...
The UAE has attracted more than $30 billion in cryptocurrency investments over the past year, according to data from forex.com. This significant influx highlights the nation’s emergence as a key player in the global crypto market, ranking among the top 10 countries for cryptocurrency adoption in 2025. The UAE’s strategic leadership in regulation and innovation...
Dubai Islamic Bank (DIB), the UAE’s leading Shariah-compliant lender, has increased its ownership in Turkey’s T.O.M. Group of Companies to 25%. This marks a rise from its earlier 20% stake, utilizing an option tied to its initial acquisition in September 2023, according to Zawya. The T.O.M. Group consists of several financial entities, including T.O.M. Katılım...
Abu Dhabi-based investment firm ADQ has teamed up with Oman Investment Authority (OIA) to launch a $180 million technology-focused fund called the ‘Jasoor Fund.’ The fund is designed to boost Oman’s digital economy and support tech startups in the wider Middle East. As part of this initiative, the Jasoor Fund will focus on high-growth technology...
Chile’s Codelco, the world’s largest copper producer, is in discussions with Saudi Arabia about potential investments in copper projects, according to an interview given by Codelco Chairman Maximo Pacheco to Reuters. The talks come as both sides look to create value through new collaborations. Codelco has been exploring partnerships with Saudi Arabia’s mining sector, including...
Abu Dhabi’s Mubadala Investment Company, through its unit Kelix Bio, has finalized the acquisition of DiabTec, a subsidiary of Julphar. This move marks a significant step in strengthening Mubadala’s biologicals portfolio and advancing biomanufacturing in the MENA region. DiabTec’s advanced facility, equipped with 20,000-litre drug substance reactors and a dedicated cartridge fill-finish facility for drug...
The OPEC Fund for International Development is making a significant investment in renewable energy by co-financing Africa’s largest onshore wind power project. The fund is contributing US$30 million towards the construction of two wind farms, each with a capacity of 550 MW, located in Egypt’s Gulf of Suez region. Together, these facilities will have a...
Global private equity firm KKR has joined forces with Dubai-based Gulf Data Hub (GDH) to invest over $5 billion in expanding data centre capacity across the Gulf region. This collaboration comes as the demand for digital infrastructure rises, driven by the growing adoption of cloud services and artificial intelligence in the region. As The National...
Venture asset manager Sigma Capital has launched the Sigma Capital Fund I, a $100 million initiative aimed at reinforcing the UAE’s position as a leader in blockchain innovation and institutional investment. This fund is designed to stimulate advancements in Web3, specifically targeting early-stage ventures in the region and beyond. The scope of the Fund includes...